Network Security Firewall Market Current Trends and Demand for Industry Players Over 2023-2031

The market for network security firewalls is expected to grow rapidly, reaching a projected value of $19,115.1 million by 2031 and registering a strong CAGR of 15.5% from 2021 to 2031. The introduction of 5G networks and developments in digital transformation are what are fueling the market's growth. The rapid development of networks, the surge in enterprise demand for network security and privacy solutions, the rise in cyber-based attacks and frauds, and the increased awareness of data security and privacy following the COVID pandemic all significantly contribute to the market's steady expansion.

Strong network security solutions are urgently needed as the world moves to the 5G era of technology. Businesses have never before had such prospects because to the improved network speeds and connection provided by 5G networks. They also expose networks to fresh security risks and weaknesses. In order to safeguard networks from unauthorised access, data breaches, and cyberattacks, network security firewalls are essential. The use of network security firewalls is now required in the 5G environment to protect sensitive data and guarantee the unhindered flow of data.

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A further factor driving demand for network security firewalls is the growing digital transformation of various industries. To improve efficiency and streamline operations, businesses are progressively implementing cloud-based services, IoT devices, and other digital technology. With this proliferation of digital technology comes a requirement for strong network security measures. By monitoring and filtering incoming and outgoing network traffic, identifying and preventing unauthorised access, and protecting against malware and cyber threats, network security firewalls offer the essential protection.

The introduction of 5G networks, developments in digital transformation, the rapid development of networks, rising enterprise demand for network security and privacy solutions, an increase in cyber-based attacks and fraud, and rising awareness of data security and privacy in the wake of the COVID pandemic are all expected to contribute to the significant growth of the global network security firewall market. Businesses working in this market can take advantage of the rising need for network security firewalls to achieve significant growth, with an estimated worth of over $19,000 million by 2031.

Highlighted with 91 tables and 94 figures, this 174-page report “Global Network Security Firewall Market 2021-2031 by Component (Solutions, Services), Firewall Type (UTM, NGF, PF, SPI), Deployment (Cloud-based, On-premise, Network Function Virtualization), Industry Vertical, Enterprise Size, Distribution Channel, and Region: Trend Forecast and Growth Opportunity” is based on a comprehensive research of the entire global network security firewall market and all its sub-segments through extensively detailed classifications. Profound analysis and assessment are generated from premium primary and secondary information sources with inputs derived from industry professionals across the value chain. The report is based on studies on 2018-2021 and provides forecast from 2022 till 2031 with 2021 as the base year. (Please note: The report will be updated before delivery so that the latest historical year is the base year and the forecast covers at least 5 years over the base year.)

In-depth qualitative analyses include identification and investigation of the following aspects:

• Market Structure
• Growth Drivers
• Restraints and Challenges
• Emerging Product Trends & Market Opportunities
• Porter’s Fiver Forces

The trend and outlook of global market is forecast in optimistic, balanced, and conservative view by taking into account of COVID-19 and Russia-Ukraine conflict. The balanced (most likely) projection is used to quantify global network security firewall market in every aspect of the classification from perspectives of Component, Firewall Type, Deployment, Industry Vertical, Enterprise Size, Distribution Channel, and Region.

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Based on Component, the global market is segmented into the following sub-markets with annual revenue ($ mn) for 2021-2031 included in each section.

• Solutions

o             SMS Firewall (A2P Messaging, P2A Messaging)

o             Signaling Firewall (SS7 Firewall, Diameter Firewall, Other Signaling Firewalls)

• Services

o             Managed Service

o             Professional Service (Deployment and Integration, Consulting Services, Support and Maintenance)

Based on Firewall Type, the global market is segmented into the following sub-markets with annual revenue ($ mn) for 2021-2031 included in each section.

• Unified Threat Management (UTM)
• Next-Generation Firewall (NGF)
• Packet Filtering (PF)
• Stateful Packet Inspection (SPI)

Based on Deployment, the global market is segmented into the following sub-markets with annual revenue ($ mn) for 2021-2031 included in each section.

• Cloud-based Deployment
• On-premise Deployment
• Network Function Virtualization

By Industry Vertical, the global market is segmented into the following sub-markets with annual revenue ($ mn) for 2021-2031 included in each section.

• BFSI
• Media & Entertainment
• Healthcare and Life Sciences
• Government and Public Sector
• Retail & E-commerce
• Energy & Utilities
• Education
• Telecommunication and IT
• Other Industry Verticals

By Enterprise Size, the global market is segmented into the following sub-markets with annual revenue ($ mn) for 2021-2031 included in each section.

• Small Enterprises
• Medium Enterprises
• Large Enterprises

By Distribution Channel, the global market is segmented into the following sub-markets with annual revenue ($ mn) for 2021-2031 included in each section.

• Direct Sales
• Value-added Resellers
• Partners & Distributors
• Other Distribution Channels

Geographically, the following regions together with the listed national/local markets are fully investigated:

• North America (U.S., Canada, and Mexico)
• Europe (Germany, UK, France, Spain, Italy, Netherlands, Rest of Europe; Rest of Europe is further segmented into Russia, Switzerland, Poland, Sweden, Belgium, Austria, Ireland, Norway, Denmark, and Finland)
• APAC (Japan, China, South Korea, Australia, India, and Rest of APAC; Rest of APAC is further segmented into Malaysia, Singapore, Indonesia, Thailand, New Zealand, Vietnam, Taiwan, and Philippines)
• South America (Brazil, Chile, Argentina, Rest of South America)
• MEA (UAE, Saudi Arabia, South Africa, Other Nations)

For each aforementioned region and country, detailed analysis and data for annual revenue ($ mn) are available for 2021-2031. The breakdown of all regional markets by country and split of national markets by Component, Firewall Type, and Industry Vertical over the forecast years are also included.

The report also covers current competitive scenario and the predicted trend; and profiles key vendors including market leaders and important emerging players.

Selected Key Players:

• AMD Telecom SA
• ANAM Technologies Ltd.
• Cellusys
• Checkpoint Software Technology Ltd.
• Cisco System Inc.
• Fortinet Inc.
• Juniper Network Inc.
• Palo Alto Networks, Inc.
• SAP SE
• SonicWall
• Sophos
• Watchguard Technology Inc.

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